Owlet, Inc. (NYSE:OWLT) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Owlet, Inc. (NYSE:OWLT) have earned an average rating of “Hold” from the five brokerages that are covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $20.00.

Several research firms have recently commented on OWLT. Weiss Ratings restated a “sell (d-)” rating on shares of Owlet in a research note on Thursday, January 22nd. Northland Securities set a $20.00 price target on shares of Owlet and gave the stock an “outperform” rating in a research note on Tuesday, December 30th. William Blair started coverage on shares of Owlet in a report on Tuesday, December 9th. They set an “outperform” rating for the company. Wall Street Zen downgraded shares of Owlet from a “hold” rating to a “sell” rating in a research report on Saturday, March 14th. Finally, TD Cowen reaffirmed a “buy” rating on shares of Owlet in a report on Friday, March 6th.

Insider Activity at Owlet

In other news, CEO Jonathan Harris sold 2,311 shares of the firm’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $13.33, for a total value of $30,805.63. Following the completion of the sale, the chief executive officer directly owned 264,396 shares of the company’s stock, valued at $3,524,398.68. This trade represents a 0.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 52.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of OWLT. Goldman Sachs Group Inc. acquired a new stake in Owlet in the first quarter valued at $43,000. XTX Topco Ltd acquired a new position in shares of Owlet during the 2nd quarter worth $90,000. Marshall Wace LLP acquired a new position in shares of Owlet during the 2nd quarter worth $336,000. Archon Capital Management LLC purchased a new position in shares of Owlet in the 2nd quarter valued at about $442,000. Finally, Next Century Growth Investors LLC purchased a new position in shares of Owlet in the 2nd quarter valued at about $1,653,000. Hedge funds and other institutional investors own 72.60% of the company’s stock.

Owlet Price Performance

Owlet stock opened at $5.12 on Thursday. The company has a debt-to-equity ratio of 0.13, a current ratio of 1.85 and a quick ratio of 1.51. The business has a 50 day simple moving average of $10.26 and a 200-day simple moving average of $10.86. Owlet has a 12 month low of $2.75 and a 12 month high of $16.94. The stock has a market capitalization of $144.24 million, a PE ratio of -1.89 and a beta of 1.77.

Owlet (NYSE:OWLT) last posted its quarterly earnings data on Thursday, March 5th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.10. The firm had revenue of $26.55 million during the quarter, compared to analysts’ expectations of $26.01 million. Equities analysts predict that Owlet will post -0.76 earnings per share for the current year.

About Owlet

Owlet Baby Care, Inc is a consumer health technology company specializing in the design and manufacture of smart baby monitoring products. The company’s flagship device, the Owlet Smart Sock, is a wearable monitor that tracks a newborn’s heart rate and oxygen saturation levels and transmits real-time data to a mobile app. Owlet has since expanded its product suite to include the Owlet Cam, an HD video monitor with audio and motion alerts, and the Dream Sock, a non-wearable device that collects sleep metrics to help parents understand and improve their baby’s rest patterns.

Founded in 2013 by engineer and father Kurt Workman, Owlet is headquartered in Lehi, Utah.